ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 24, 2015 12:30:00 GMT
I got the upfront interest on PBL6, why can't I sell if its been extended? And if it started 4/8/14 with 6 months upfront interest, then why didn't I get 5/2/15-28/2/15 interest? So how does the interest on upfront work? Especially when they go past the initial term? Good point, hadnt occurred to me as I generally dont take upfront interest. savingstream really needs to update its FAQ to answer some of these questions Why dont you think you cant sell PBL6 - I can see the option on mine, does it reject it when you click sell?
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Liz
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Post by Liz on Mar 24, 2015 12:42:57 GMT
There is no sell button, Unlike on monthly interest. So maybe the interest is getting rolled, as the system can't switch it back to monthly interest. Who knows.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 24, 2015 12:52:46 GMT
There is no sell button, Unlike on monthly interest. So maybe the interest is getting rolled, as the system can't switch it back to monthly interest. Who knows. Thats odd as I definately have a sell button option showing on my loan part that originally had upfront interest. I assume your accessing the loan part through your dashboard
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tony
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Post by tony on Mar 24, 2015 13:30:26 GMT
So, Super Yatch is listed again and appears in today's Weekly Update which tells us that the loan period is likely to be extended by three months. The same goes for PBL 06. SS always seem to be willing to extend loan periods, rather than call time and consider the borrower to have defaulted, but I suppose that is the most cost effective solution. I am assuming that SS will offer to buy the loan part from investors who do not wish to wait a further three months for their money - if not, investors will have to try to sell on the secondary market.
Rate Setter have the advantage of having fixed loan terms but their interest rates are not so attractive so I guess I will stay with SS.
: how did you receive "today's Weekly Update"? Was it by yet another e-mail that I haven't received? Thanks. By email sent to the address logged with them. When first introduced I am sure it was called "Friday Update" but now it appears on various days depending probably whether Tim is home from skiing! Although SS now have a couple of guys to answer the phone, it appears that they are there simply to answer enquiries from potential new savers - if you ask them anything about your account, or about technical issues or problems, you are told that they will have someone call you back. Judging from my experience, and that of many posters on this forum, that never happens. I think Tim is still running the platform practically single handed and sooner or later he will have to employ a knowledgeable side kick who is always available to answer questions from existing investors.
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Liz
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Post by Liz on Mar 24, 2015 14:30:40 GMT
There is no sell button, Unlike on monthly interest. So maybe the interest is getting rolled, as the system can't switch it back to monthly interest. Who knows. Thats odd as I definately have a sell button option showing on my loan part that originally had upfront interest. I assume your accessing the loan part through your dashboard Yes I can sell it now! Sure I couldn't earlier. Still missing interest for the period when the upfront interest(4/2/15) finished. Anyone else?
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star dust
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Post by star dust on Mar 24, 2015 14:45:09 GMT
IIRC PBL06 ended 6 March so you won't get the post upfront interest part until the end of the month. Then monthly thereafter I guess. Same situation with the big boat which the first tranch of upfront interest finished on the 23rd March.
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Liz
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Post by Liz on Mar 24, 2015 14:50:21 GMT
I think they might have paid 7 months upfront, hence paid me already until 4/3/15.
Its all very confusing, and there is a lack of information. I'll have to start tracking it all in a spreadsheet. More time wasted.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 24, 2015 15:56:35 GMT
I think they might ha paid 7 months upfront, hence paid me already until 4/3/15. Its all very confusing, and there is a lack of information. I'll have to start tracking it all in a spreadsheet. More time wasted. No only 6 months paid, loan should have finished on 4/2/15 or maybe a week later as wasnt drawn down immediately. Extension occured around 16/2 as referred to in that weeks update. Have to see what happens in a week unless SS pick up on this.
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Liz
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Post by Liz on Mar 24, 2015 16:45:24 GMT
Well I got £22.64, from a £346 loan, which started on the 18/8/14, running for 218 days.
Have received 199 days(6.6m) interest, so due 19 days, so I have been paid up to 4/3/15.
Hence not due the balance until the end of March.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 24, 2015 19:08:32 GMT
Theres something not right about this (or Im going mad) Loan started on 4/8 so interest should have been paid from then (in my case 5/8). I received £6 on £100 which is the right amount if loan finished 4/2 (183days) But accepting info in liz example (which computes) If it was 199days (takes it to 21/2) I should have received £6.50, (up to 4/3 is 211 days so should have received £6.93) 199days up to 4/3 means the loan started on 15/8 which was the date it drew down so they appear not to have paid the predrawdown interest. So I appear to missing all of February interest one way or another  Can somebody point out where Im going wrong? Heres the relevant bit of my transactions 15/8/2014 Interest 5028 Property Bridging Loan 006 (£100.00) 5/8/2014 £6.00 8/8/2014 Cashback 5028 Property Bridging Loan 006 (£100.00) 5/8/2014 £0.50 5/8/2014 Loan part fund 5028 Property Bridging Loan 006 (£100.00) 5/8/2014 £-100.00 |
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Mar 24, 2015 20:33:14 GMT
Theres something not right about this (or Im going mad) Loan started on 4/8 so interest should have been paid from then (in my case 5/8). I received £6 on £100 which is the right amount if loan finished 4/2 (183days) But accepting info in liz example (which computes) If it was 199days (takes it to 21/2) I should have received £6.50, (up to 4/3 is 211 days so should have received £6.93) 199days up to 4/3 means the loan started on 15/8 which was the date it drew down so they appear not to have paid the predrawdown interest. So I appear to missing all of February interest one way or another Can somebody point out where Im going wrong? Heres the relevant bit of my transactions 15/8/2014 Interest 5028 Property Bridging Loan 006 (£100.00) 5/8/2014 £6.00 8/8/2014 Cashback 5028 Property Bridging Loan 006 (£100.00) 5/8/2014 £0.50 5/8/2014 Loan part fund 5028 Property Bridging Loan 006 (£100.00) 5/8/2014 £-100.00 I funded PBL006 on 8/8/14 (not upfront interest) and received cashback dated 8/8/14. Remember SS used to e-mail that a loan was going live, with last chance to get cashback. I'm pretty sure I heeded that e-mail and it went live on 8/8/14. If it had gone live earlier, I wouldn't have got any cashback. EDIT: 2nd thoughts, I think SS were offering cashback for a few days after going live, so 4/8/14 drawdown may be correct.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 24, 2015 21:07:29 GMT
Theres something not right about this (or Im going mad) Loan started on 4/8 so interest should have been paid from then (in my case 5/8). I received £6 on £100 which is the right amount if loan finished 4/2 (183days) But accepting info in liz example (which computes) If it was 199days (takes it to 21/2) I should have received £6.50, (up to 4/3 is 211 days so should have received £6.93) 199days up to 4/3 means the loan started on 15/8 which was the date it drew down so they appear not to have paid the predrawdown interest. So I appear to missing all of February interest one way or another Can somebody point out where Im going wrong? Heres the relevant bit of my transactions 15/8/2014 Interest 5028 Property Bridging Loan 006 (£100.00) 5/8/2014 £6.00 8/8/2014 Cashback 5028 Property Bridging Loan 006 (£100.00) 5/8/2014 £0.50 5/8/2014 Loan part fund 5028 Property Bridging Loan 006 (£100.00) 5/8/2014 £-100.00 I funded PBL006 on 8/8/14 (not upfront interest) and received cashback dated 8/8/14. Remember SS used to e-mail that a loan was going live, with last chance to get cashback. I'm pretty sure I heeded that e-mail and it went live on 8/8/14. If it had gone live earlier, I wouldn't have got any cashback. EDIT: 2nd thoughts, I think SS were offering cashback for a few days after going live, so 4/8/14 drawdown may be correct. Loan launched on 4/8, no idea why there is a difference between cashback date & interest payment date, still shouldnt make any difference to interest calculations. Interest is paid from day you invest so upfront interest should cover period from that date until loan end date. Doesnt seem to EDIT: Just checked an old thread. Was due to drawdown 8/8 (email alert sent) so cashback was paid then, but then there was delay so didnt actually drawdown until 15/8 when upfront interest was paid
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Liz
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Post by Liz on Mar 24, 2015 21:51:29 GMT
Don't forget I didn't invest until the 18th, so missed out on 14 days interest. If I had have invested on the 4th, I assumed I would have got 213 days interest.
What did other get?
Perhaps people who went in before drawdown only got 6 months, but those after got up to 4th September plus 6 months, because of a slight delay to drawdown.
Are you sure you didn't get a Feb PBL 6 Interest payment?
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ilmoro
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Post by ilmoro on Mar 24, 2015 22:12:45 GMT
Don't forget I didn't invest until the 18th, so missed out on 14 days interest. If I had have invested on the 4th, I assumed I would have got 213 days interest. What did other get? Perhaps people who went in before drawdown only got 6 months, but those after got up to 4th September plus 6 months, because of a slight delay to drawdown. Are you sure you didn't get a Feb PBL 6 Interest payment? That would appear to confirm my figures then. Maybe Yep, downloaded excel transaction statement & filtered for loan part just to confirm mark one eyeball findings, just the 3 entries posted Will see what happens end of month then chase answers from SS Would never even have thought about but for your original comment. 
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